The mid-1980s also saw some radical changes to the New Zealand tax landscape, with the introduction of new regimes that, today, feel like they’ve been with us forever. In particular, Goods and Services Tax was introduced, as was Fringe Benefit Tax (FBT).
NZ companies not engaging fully with risk management
New Zealand companies and organisations are well aware of risk management strategies and approaches, but for many it is just a box ticking exercise rather than a core management function.
More time needed to resolve Aorangi dispute
Today the Timaru High Court adjourned the hearing for the ownership of introduced assets to Aorangi Securities Limited from 29 October 2012 to 20 May 2013.
Hubbard Management Fund’s (HMF) complexity still being unravelled
The Hubbard Management Funds (HMF) statutory managers from Grant Thornton reported today in their 12th Report to investors that they are still implementing the High Court directive made in June on how to distribute funds to investors. There have been no further distributions in the meantime.
Uncertainty continues for Aorangi Investors
The 12th report by the Grant Thornton statutory managers to Aorangi Securities Limited investors, highlights how complex and difficult the task of returning money to investors has become. Aorangi is one of the funds caught up in the Hubbard financial collapse.
New Zealand rated 11th best country in the world for growing businesses
New Zealand is the 11th best country in the world for supporting and enabling dynamic growing businesses according to the Grant Thornton Global Dynamism Index (GDI). However, the global ranking of 33rd in the economics and growth driver confirms that New Zealand needs many more growth companies. Given our population and the size and scale of our economy relative to its land mass, the unanswered question is, can we improve our position within the next 10 years?
The World in Figures is now more accessible
Grant Thornton is delighted to have teamed up with The Economist to bring to more New Zealanders the World in Figures. It provides country rankings on more than 200 topics on everything from foreign debt, life expectancy and natural resources, to business competitiveness, innovation and Facebook usage.
Commercialisation of intellectual property – the tax traps
New Zealand companies are becoming adept at developing valuable Intellectual Property (‘IP’).
For most business taxpayers with March balance dates, today is the due date for the first instalment of 2013 provisional tax. Provisional tax arises when income is earned without tax deducted at source.
A tax friendly rebuild
The blueprint that was released recently for the rebuild of central Christchurch is a bold, ambitious and exciting plan. Once achieved, it will represent a significant change to the way we live, work and play “in town”.